Diversified Trust Co Reduces Position in Phillips 66 (NYSE:PSX)

Diversified Trust Co cut its holdings in shares of Phillips 66 (NYSE:PSX) by 37.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,750 shares of the oil and gas company’s stock after selling 5,950 shares during the period. Diversified Trust Co’s holdings in Phillips 66 were worth $1,282,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PSX. Crewe Advisors LLC purchased a new stake in shares of Phillips 66 during the first quarter valued at $25,000. Keener Financial Planning LLC purchased a new stake in shares of Phillips 66 during the first quarter valued at $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Phillips 66 during the second quarter valued at $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Phillips 66 during the fourth quarter valued at $27,000. Finally, Redmont Wealth Advisors LLC bought a new position in Phillips 66 in the first quarter valued at about $28,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PSX shares. Wolfe Research started coverage on Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Raymond James increased their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Mizuho lowered their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Morgan Stanley lowered their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $152.93.

Phillips 66 Stock Down 4.5 %

Shares of PSX opened at $132.31 on Wednesday. The business’s 50 day moving average is $133.79 and its 200 day moving average is $142.02. The company has a market capitalization of $56.09 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 5.46 and a beta of 1.33. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned $3.87 EPS. Research analysts expect that Phillips 66 will post 8.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.22% of the stock is currently owned by company insiders.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.